Aged nation status in just 27 years

KUALA LUMPUR: Malaysia has only about 27 years to prepare for "aged nation" status, far shorter than the transition period in several developed nations.

Economy Minister Akmal Nasrullah Mohd Nasir told the Dewan Rakyat that the short window gives the government limited time to prepare, compared with 115 years for France, 73 years for Australia and 69 years for the United States.

He said Malaysia became an "ageing nation" in 2021, when those aged 65 and above made up seven per cent of the population.

"Based on current projections, Malaysia is expected to reach 'aged nation' status by 2048, when the proportion rises to 14 per cent, and 'super-aged nation' status by 2060, when it reaches 20 per cent," he said.

"Our transition also presents unique challenges because our income levels are lower than those of developed nations when they underwent the same transition."

Akmal was responding to a question from Dr Zaliha Mustafa (PH-Sekijang) on the status of the National Ageing Blueprint 2025-2045 and the government's preparedness to address the challenges of an ageing society.

He said the shift would mean slower workforce growth, inadequate retirement savings and sharply higher demand for healthcare and elderly care.

Akmal added that the blueprint is undergoing final government review, while the White Paper on Preparation for Becoming an Aged Nation will be tabled during the current parliamentary session.

On Dr Zaliha's proposal for a district rejuvenation pilot zone in Sekijang, where 10.8 per cent of residents are aged 60 and above, Akmal said the government was willing to consider it.

He acknowledged that young people moving to major cities had accelerated ageing in some areas, and that urban management and recreational tourism planning for the elderly needed to be reviewed.

Responding to Salamiah Mohd Nor (PN-Temerloh) on the role of youth, he said the "silver economy" could create business and employment opportunities in elderly care, health technology and digital services.

He added that the Economy Ministry, the Statistics Department and relevant agencies were formulating indicators to measure the silver economy's contribution to gross domestic product.